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Wall Street was set for a downbeat trading day on Tuesday, with stock futures tilting lower ahead of economic growth data, which could throw the potential Santa Rally further off course.

Futures for the Dow Jones Industrial Average dropped 42 points, or 0.3%, to 17,132, while those for the S&P 500 index lost 4.40 points, or 0.2%, to 2,010.50. Futures for the Nasdaq 100 index gave up 14.75 points, or 0.3%, to 4,548.25.

U.S. stocks have struggled to stage a Santa Rally this December, but ended firmly higher Monday in a late session surge as investors shrugged off weak oil prices. The S&P 500 ended 0.8% higher and the Dow Jones Industrial Average leapt about 123 points. The Nasdaq Composite finished up 0.9%.

Crude recovered some lost territory on Tuesday, rising above $ 36 a barrel.

Markets are generally expected to be extra volatile this week as investors wind down for the Christmas holiday and financial markets shut down at the end of the week.

U.S. stocks rose, with equities swinging in a wide range amid light volume, as investors assessed data showing a resilient labor market a week before the Federal Reserve’s policy decision. Crude led gains in commodities, while global shares retreated on concern China remains a threat to growth.

The Standard & Poor’s 500 Index rebounded from a selloff yesterday in a market increasingly characterized by sharp shifts in sentiment amid the looming threat of higher interest rates. Equities from Asia to Europe declined on renewed worry U.S. tightening as soon as next week would damp global growth, while a downgrade of Brazil’s debt to junk roiled markets there and underscored weakness in developing nations.

A second day of robust U.S. jobs data bolstered the case for higher rates, while price data from China added to the challenges facing policy makers in Asia’s largest economy. The Bank of England said turmoil on the global financial markets hasn’t shaken its economic outlook, fueling speculation the Fed may also look past recent turbulence at its policy meeting.

While economists predict the Fed will increase its key rate next week, futures traders price the odds of an increase at 28 percent, assuming the effective fed funds rate will average 0.375 percent after the first increase.

In China, comments by Premier Li Keqiang that the country still has “sufficient capability to respond” if growth falls below a reasonable range failed to buttress markets as data showed producer prices fell by the most since 2009.

The Standard & Poor’s 500 Index gained 0.6 percent to 1,953 at 12:39 p.m. in New York, after falling 1.4 percent yesterday. The Dow Jones Industrial Average added 82.74 points, or 0.5 percent to 16,336.31. The Nasdaq Composite Index rose 0.9 percent. Trading in S&P 500 companies was 9 percent below the 30-day average for this time of day.